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Final Order Approving Plan of Arrangement

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RNS Number : 6088Q
Entertainment One Ltd
21 October 2019
 

Date:                           21 October 2019
On behalf of:               Entertainment One Ltd.

(the "Company", "eOne", "Entertainment One" or the "Group")

 

 

Entertainment One Ltd.                                

Final Order Approving Plan of Arrangement

Entertainment One announces that it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving its previously announced statutory plan of arrangement (the "Arrangement") under section 192 of the Canada Business Corporations Act pursuant to which an affiliate of Hasbro, Inc. will acquire all of the issued and outstanding common shares of Entertainment One for £5.60 per share in cash. Receipt of the final order follows the special meeting of Entertainment One shareholders held on 17 October 2019, at which the Company's shareholders approved the Arrangement by special resolution.

The transaction remains subject to receipt of certain regulatory approvals and other customary closing conditions. The transaction has received several regulatory approvals so far, including early termination of the waiting period under the Hart Scott Rodino Antitrust Improvements Act in the U.S. and antitrust approval in Germany. The transaction is expected to close during the fourth quarter of 2019.

Enquiries:                    



Entertainment One Ltd.

Patrick Yau

 

+44 (0)20 3714 7931

Alma PR

Rebecca Sanders-Hewett

Susie Hudson

 

+44 (0)20 3405 0205

Notes to Editors:

Entertainment One Ltd. (LSE: ETO) is a global independent studio that specialises in the development, acquisition, production, financing, distribution and sales of entertainment content. The Company's diversified expertise spans across film, television and music production and sales; family programming, merchandising and licensing; digital content; and live entertainment. Through its global reach and expansive scale, powered by deep local market knowledge, the Company delivers the best content to the world.

The Company's robust network includes international feature film distribution company Sierra/Affinity; Amblin Partners with DreamWorks Studios, Participant Media, and Reliance Entertainment; Makeready with Brad Weston; unscripted television production companies Whizz Kid Entertainment, Renegade 83, Daisybeck and Blackfin; live entertainment leaders Round Room Live; world-class music labels Dualtone Music Group and Last Gang; innovative music platform Audio Network; and award-winning emerging content and technology studio Secret Location.

The Company's rights library, valued at US$2.1 billion (as at 31 March 2019), is exploited across all media formats and includes about 80,000 hours of film and television content and approximately 40,000 music tracks.

www.entertainmentone.com

 

IMPORTANT NOTICE

 

Not for release, publication or distribution in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.

 

Forward-Looking Statements

 

Certain statements in this announcement contain "forward-looking statements" with respect to Entertainment One within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be accompanied by such words as "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "potential," "project," "target," "will" and other words and terms of similar meaning. Among other things, these forward-looking statements include expectations concerning the proposed acquisition of Entertainment One and the expected timetable for completing the acquisition. Entertainment One's actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. The statements contained herein are based on Entertainment One's current beliefs and expectations and speak only as of the date of this announcement. Except as may be required by law, Entertainment One does not undertake any obligation to make any revisions to the forward-looking statements contained in this announcement or to update them to reflect events or circumstances occurring after the date of this announcement. You should not place undue reliance on forward-looking statements.

 

No offer or solicitation

 

This announcement is provided for informational purposes only and does not constitute an offer to sell, or an invitation to subscribe for, purchase or exchange, any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance, exchange or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Entertainment One

Price: 556.5

Market: AIM
Market Cap: £2.78 billion
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